FinTech Daily News – Edition 52, 14.09.2017
September 14, 2017
FinTech Daily News – Edition 54, 18.09.2017
September 18, 2017

FinTech Daily News – Edition 53, 15.09.2017

FinTech Daily News

by Florin Oprea

Edition 53, 15.09.2017

Deals, Investments & M&As

ZhongAn Online Sets Terms For Up To $1.5 Billion IPO

Crystal Tse, Lulu Yilun Chen – Bloomberg

ZhongAn Online P&C Insurance Co. has set tentative terms for a Hong Kong initial public offering that could raise as much as $1.5 billion, people with knowledge of the matter said, as it pursues the city’s first major fintech listing.

FAO: Looks like ZhongAn aims to start taking orders from investors on Monday.

Klarna Bank Acquires German Online Payments Company BillPay

Valentina Kirilova – Leap Rate

E-commerce payment provider Klarna Bank AB today announced that the acquisition of German online payments company BillPay has been completed.

FAO: Klarna continues its journey, swallowing some other players in the process.

Fauna Raises $25M In Series A Funding, Led by Point72 Ventures

PRNewswire

Fauna, Inc., the company behind FaunaDB, an adaptive operational database,announced the close of $25M in Series A funding.

FAO: Fauna’s team is composed of former employees from Twitter, Couchbase, Oracle, Amazon, and Google.

Fintech Startup YayPay Secures $5.3 Million Through Latest Funding Round

Samantha Hurst – Crowdfund Insider

San Francisco fintech startup YayPay announced on Wednesday it secured $5.3 million in funding to further its drive to bring automation to the back-office finance operations of mid-sized enterprises.

FAO: Total funding received by Yay Pay since March 2016 is $6.2m  in 3 funding rounds.

Brent Hoberman Has Raised Another $25 Million For His European Startup Fund
Sam Shead – Business Insider

Firstminute Capital, the startup investment fund from Lastminute.com founder Brent Hoberman and former Goldman Sachs analyst Spencer Crawley, has raised another $25 million (£19 million).

FAO: Looking for “juicy” startup bets across Europe.

Dublin Fintech Firm Assure Hedge Seeks Funds To Launch In Ireland

Charlie Taylor – The Irish Times

Assure Hedge, a provider of foreign exchange technology to protect businesses from currency fluctuations, is looking to raise €3 million and plans amid plans to launch in its home market shortly.

Wealth & Personal Finance

Betterment Struck A Deal With 2 Wall Street Giants To Provide Its 270,000 Users More Investment Options

Frank Chaparro – Business Insider

Betterment, the largest roboadviser with $10 billion under management, has enlisted the support of financial juggernauts Goldman Sachs and BlackRock for two new portfolio options.

FAO: Betterment, now valued $800m, aims to launch an IPO soon.

FinTech People

It Was A Free-For-All”: Insiders Slam Sofi’s “Frat House” Culture As C.E.O. Resigns
Maya Cosoff – Vanity Fair

One of the hottest start-ups in Silicon Valley is facing a lawsuit over alleged sexual harassment.

FAO: Earlier this week SoFi’s C.E.O., Mike Cagney, announced he would be stepping down after another sexual harassment scandal in the Valley.

Accelerators & Hubs

Will Brexit Let Paris Overtake London As Europe’s Silicon Valley?

Frances Marcellin – ZD Net

In leading startup cities across Europe, questions are being asked about how Brexit will hit London. Could it now be possible that Paris’ accumulating successes and momentum could knock London off its spot as the leading European center for tech entrepreneurship?

FAO: Philip Hammond thinks otherwise…

DNT: Guess he’s not the only one…

Fintech Bosses Demand Action, Not words, From UK Chancellor

Yolanda Bobeldijk – Financial News

Senior figures from UK fintech want more detail on how the UK chancellor intends to keep their sector competitive and relevant after Brexit, following his latest pledge to fight for its future.

FAO: London’s leading position in Europe’s fintech is being challenged by Paris, Frankfurt, Berlin and many other financial centres. We had several editions covering this topic – you might find our Archive very useful if you want to follow it.

Korean Fintech Hub Enteres MoU with Swiss counterpart

Finextra

The FinTech Center of S.Korea (Chairman: Yushin Jung) held ‘the 20th FinTech Demo Day’. In the day’s event, relevant personnel from the Financial Services Commission, Financial Supervisory Services and relevant organizations as well as overseas FinTech support organizations (VC, Accelerator, etc.) participated together and showed much interests and encouragements.

Events

Upcoming event : This September, TechHub Bucharest will host Fintech Month, a program dedicated to Romanian Fintech startups – details HERE

Upcoming event: Immersion Tour Hong Kong FinTech Week, 23-27.10.2017 – details HERE

Upcoming event: Immersion Tour Singapore FinTech Festival, 14.-16.11.2017 – details HERE

Upcoming event: Index Ventures is coming in force to TechCrunch Disrupt Berlin this December – details HERE

Other news

China’s UrWork Rejects Lawsuit By US Rival WeWork In Battle Of Co – Working Firms

Laura He – South China Morning Post

UrWork, one of China’s biggest providers of co-working space, has rejected a lawsuit filed by US rival WeWork alleging trademark infringement in the US and UK markets, as the rivalry between the two dominant players in their home markets increases in their bids to expand globally.

FAO: Battlesuits on…

 

FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News